How to Pick a Niche

Niche
16 Aug
2016

questionsI’ve had allot of questions from people asking “What niche should I pick” or “Give me a good niche”. The problem is no one can do this for you, but I can provide good guidance on what to consider when doing so. Picking a niche is not rocket science and people spend way too much time debating what niche to pick and start a business around. This leads to putting too much weight on your niche and if it does not work out, you quit your online business altogether. Chances are very slim that the first niche you ever pick will bring you success. Just pick one dammit…and run with it! If it fails move on to the next one and don’t give up!
Okay, okay… lets relax and start at the beginning to be able to give you guys good advice on this topic.

WHAT IS A NICHE


HaystackA Niche is created by focusing all your marketing efforts on a specific, but well defined group of people. Within your niche you provide insight, products, services or solutions to this specific market’s needs. Let’s take an example… fly fishing… not everyone in the world do fly fishing so you target this specific population and you investigate are their needs or requirements and you provide the best information and advice to satisfy that need. You can even refine your niche to a specific fish rod brand or lure type. Finding a niche should not be like finding a needle in a hay stack.

WHAT NICHE IS RIGHT FOR ME


As I said there is no way to tell someone what niche they should pick, but luckily I can provide some advice on how to do this. There is no good or bad niche out there, just the wrong niche for specific people. If you feel brave you can even create your own niche as long as you are great or the best at it and can sell the idea. There I just hit the pin on the head but here are the guidelines of picking the right niche.

  • You need to be knowledgeable – It is important to pick something that will fuel your enthusiasm, be it something that interest you or irritates you. At the end of the day you need to target a specific problem and become the expert in that field to provide your audience solutions in any shape or form
  • Use your hobby as a niche – If you have a specific hobby, you are already interested in the specific topic and you already know more about that market than the average person does. Once you embrace this you will need to spend more time on your hobby to become the expert and go to guy for any questions or problems. Is that not a fun way to make a living… hell yes.
  • Don’t pick a too broad niche – As a beginner you do not want to pick a broad niche to start off with, because then you will end up with knowing allot about everything but not much about something. It is best to start with a very targeted niche and then as you dominate that area you can broaden your spectrum to the larger audience
  • Do some research – Some research is required to ensure the niche is not over marketed. And again as a beginner you will struggle to go up against larger corporations with huge advertising budgets. With that said I will also add “never say never”. If you believe you have the edge in terms of knowledge and drive and think you can dominate that niche I say go for it!!
  • outside boxThink outside the box – Try a different angle. If there are allot of competition in your niche do not follow their lead, try to come in with a new angle. Investigate what is missing and what unresolved problems exist in the niche. Do not be one of many fish in a big pond, but be a big fish in a small pond.
  • Don’t be afraid to fail – People learn from their mistakes, and if you fail it does not mean you need to quit, you simply take the experience your learned out of the failure and apply it to a new niche. You won’t be successful on your first niche, but you need to jump in and gain the experience to move forward on your road to financial freedom.

There is a good coarse on “How to pick a niche” on the Wealthy Affiliate community. Please see my review if you are not a member here.

WHATS NEXT


Now that you have identified your niche, it is time to start eductating yourself on the topic to become the go to guys and create a website to share this information and interact with your audience, but more on that in a future post

Please feel free to leave any comments or ask questions below, I’ll be happy to help!

IMJourneyMan

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